Without knowledge, our artists remain vulnerable to exploitation, burnout, and being undervalued – Solomon-Ayeni

Kikelomo Solomon-Ayeni is a creative artist who navigates the lines between artistry and enterprise. Over the years, she has demonstrated that her journey is not just about creating art, but also about reimagining how African creativity can thrive in a global economy, having exhibited African creatives in London, Berlin, Palma, and New York. In this interview with BusinessDay, she envisions Africa’s creative economy becoming a central force and key contributor to the global creative industry. JOHN SALAU brings the excerpts:

You have been in the art space for some years now; kindly tell us more about your creative work and why it feels deeply personal.

I am a multi-talented artist with a keen eye for detail and a heart dedicated to social change. I seamlessly merge my artistic talents with my advocacy work to create impactful visual narratives. I am driven by a deep love for documenting the lives of women and children. My photography goes beyond mere images; it serves as a powerful medium for advocacy and social awareness. I find profound joy in capturing the essence of a child’s journey, from the womb to the world, and I am committed to shedding light on their stories. For me, art is not just aesthetic; it is spiritual and emotional. I want my work to be a safe space for others to see themselves, find their voice, and believe in their worth. My works have been shown in various galleries across the world. The recent ones being Boomer Gallery London, Praxis Gallery Minneapolis, USA and Independent ArtSpace in China.

Can you share what inspired your journey in the creative economy space over the past 10 years?

I believe my entry was divine. It began with a strong conviction for me to pursue photography, a medium that trained my eyes to notice light, colour, emotion, and the unspoken stories that shape our everyday experiences. Photography taught me how to observe, and made me aware of the limitations that artists in Africa often face when trying to build careers from their talent. Very early, I already understood that passion alone was not enough. I saw talented creatives around me struggling, not because they lacked skill, but because they lacked business understanding, infrastructure, and mentorship. This made me pursue artistic excellence and systems-building. I wanted to create platforms where creativity could be both celebrated and sustainably monetised. That intersection of artistry and enterprise is where my work continues to thrive.

As a creative artist, why is education important?

Education is foundational to everything I do. I am a World Bank scholarship beneficiary at the Enterprise Development Centre, Pan Atlantic University, where I studied entrepreneurship management. I upgrade my business knowledge every time. I recently finished a master’s in management from the University of Derby. A man cannot go beyond the knowledge he has. Without knowledge, our artists remain vulnerable to exploitation, burnout, and being undervalued. That is why at the Nirmala Chellarams Centre for Entrepreneurship Skills, I helped develop curricula that integrate business education for creative entrepreneurship. I also teach business at the Nigeria Photography Expo and Conference often. I teach artists how to build sustainable models from sourcing finance to negotiation and market understanding.

What recognitions have meant the most to you, and why?

Each recognition I have received, whether it was the World Bank, the Cherie Blair Foundation, the French Consulate, or the UK Arts Council Global Talent Endorsement, has affirmed that the work I am doing matters both locally and globally. What these recognitions do is open doors for me, the communities and artists I represent. They have enabled me to scale impact, access funding, build networks, and amplify the voices of those often overlooked. They prove that when we invest intentionally in African creativity, the returns social, cultural, and economic returns are profound. They are validations of a larger argument around for years: that Africa’s creative industries are not fringe sectors, but are powerful engines of economic growth and cultural diplomacy. However, I don’t let them define me. Staying humble and focused is a key to going higher and further in life.

With all you have achieved, what are you most proud of?

I am proud of the impact my art (visual and written) has made and is making in the lives of people. I am also proud of the legacy I am building. A legacy that challenges the world to see African artists as global players, cultural ambassadors, and economic actors capable of shaping markets, narratives, and futures.

You often talk about ‘infrastructure for artists.’ What do you mean by that?

When I talk about ‘infrastructure for artists,’ I mean all the systems, structures, and support networks that allow artists to thrive beyond just creating the work. Art doesn’t exist in isolation; artists need spaces to show their work, platforms to connect with audiences, opportunities for funding, training, and collaboration. Without these, even the most talented artists can struggle to grow or be seen. So for me, building infrastructure is about creating sustainable ecosystems around artists, from galleries and residencies, to mentorship programs, to policies that support creative careers. It’s about making sure that artists are not just surviving but are positioned to influence culture, shape communities, and participate fully in the global art conversation.

Could you tell us about Red19 Photography and how it has evolved over the years?

Red19 Photography was born in 2011, during a time when Nigeria’s art market was still fragile and underdeveloped. Starting a photography brand then was seen as risky, but I was determined to create something meaningful. I was sure that there is a future for me in the creative space and photography was my starting point. I started my business carving a niche for myself in Children, Maternity and Family photography. The goal of the business was to promote family bonds. This type of photography never existed in Nigeria then so it was difficult to sustain the business at the early stage. I embraced other types of photography to ensure there was constant cash flow. I would not market the other photography I did but I often got referrals for them and it helped keep the business afloat till the niche became viable. As the year went by, I created an arm for wedding and event photography, photo editing training, photography training and mentorship, video production; little by little we grew as opportunities unfolded to the organisation.

What is Red19 Global, and what makes it different?

Red19 Global is the evolution of my desire to scale African creativity beyond national borders. Based in the United Kingdom and Virginia USA, it serves as a bridge between African creators and global audiences. What sets it apart is its holistic approach; we’re not just organizing exhibitions or selling art; we’re building a full creative ecosystem that includes artist representation, cultural storytelling, portfolio reviews, and strategic partnerships. I created Red19 Global because I saw a consistent problem: talented African artists were not getting the global visibility, structure, or support they needed. Red19 Global addresses that gap. It is designed to help African and diaspora creatives gain visibility that their work deserves and also access international markets. Red19 Global is about reimagining what a global platform for African art can look like, one rooted in cultural relevance and economic empowerment.

So far, how do you define success for Red19 Global?

Success for Red19 Global is not just about how many exhibitions we have done, but about the depth of engagement and opportunities we have created for artists. In less than a year, we have showcased African creatives in cities like London, China, Berlin, Palma, and New York. These exhibitions were more than showcases; they are strategic entry points into wider networks of residencies, sales, critical reviews, and collaborations. We have had artists get featured in the international press, and build sustainable careers off the visibility they have gained. The kind of success that matters to me is one that creates platforms that are beyond displaying art, but build momentum, open doors, and create tangible, long-term benefits for every artist involved.

You have been active in cultural programming. What is your curatorial approach?

I believe that exhibitions and cultural programs should reflect the lived experiences of the communities they serve, and also create space for new interpretations and voices. My curatorial approach is a mix of open calls and invitations. With open calls, I give space for a wide range of artists to take part, especially those who might not normally get opportunities to show their work. It’s a way of discovering new voices, bringing diversity, and making sure fresh ideas are always part of the conversation. On the other hand, I also use invitations when I want to bring in artists whose work connects directly to a theme or story I am curating. This gives the exhibition focus and ensures the message is clear and impactful. By combining both approaches, my programming stays inclusive and intentional. It opens doors for many artists while still shaping a strong narrative. In the end, my goal is to create cultural projects that are accessible, meaningful, and that spark dialogue between artists, audiences, and communities.

Finally, what is your ultimate vision for the African creative economy?

My ultimate vision for the African creative economy is for it to be recognised as a core driver of the global creative industry, not a peripheral contributor. A source of innovation, influence, and sustainable growth that shapes global culture. Africa’s creative voices are among the most original in the world, and I see a future where they circulate freely across international platforms, enjoying the same visibility, infrastructure, and commercial power as any established creative hub. To achieve this, African artists must be able to create locally and compete globally. That requires strong infrastructure: platforms that give visibility, systems that protect intellectual property, financing that supports risk and growth, and networks that connect artists with global markets. This is where Red19 Global plays a pivotal role. Through our cultural programming, exhibitions, and artist development initiatives, we provide the scaffolding that allows artists to move from idea to international stage. We combine open calls that invite diverse participation with curated invitations that ensure artistic excellence, creating opportunities for both emerging and established artists to showcase their work to the world. In essence, Red19 Global represents the infrastructure that makes my vision tangible. It is a bridge between African talent and global opportunity, a platform that ensures African artists are not only part of the global creative conversation but are actively shaping its future. By supporting artists with visibility, skills, and access, Red19 Global contributes to an Africa whose creativity is not just preserved but projected onto the world stage, where it belongs.

Geoffrey Nnaji, minister embroiled in certificate saga resigns

President Bola Tinubu has accepted the resignation of Geoffrey Nnaji, the minister of innovation, science, and technology, following allegations of certificate forgery against him.

President Tinubu appointed Nnaji in August 2023.

He resigned Tuesday in a letter thanking the President for allowing him to serve Nigeria,Bayo Onanuga, the special adviser to the president, said in a statement.

Nnaji said he has been a target of blackmail by political opponents.

President Tinubu thanked him for his service and wished him well in future endeavours.

The controversy over Nnaji’s certificate began in July 2023 when he was included among the first batch of ministerial nominees. The authenticity of his academic and NYSC certificates were questioned, after claims emerged that he never completed his university education.

An investigation by Premium Times concluded that both the bachelor’s degree and NYSC discharge certificate submitted by the minister were forgeries. Until recently, Nnaji had not publicly responded to the allegations. But new court documents have now revealed his side and his own statements confirm that he never received a certificate from UNN.

Nnaji said in an affidavit that he was admitted to study Microbiology/Biochemistry in 1981 and that he completed the programme in 1985. In the same document, he noted that he had not been issued a certificate, blaming ‘the non-cooperative attitude’ of UNN officials for his inability to collect it.

He cited a letter issued by the university in December 2023 to People’s Gazette, confirming that he was indeed a student who ‘graduated’ in 1985 with a Second Class (Lower Division) degree. However, this letter did not include or represent an actual certificate and his court filing indirectly confirmed that he does not possess one.

By admitting that the university never issued him a certificate, Nnaji has, in essence, validated the claims of forgery earlier made against him.

Stakeholders urge dialogue, regulatory oversight in Dangote Refinery over labour dispute

A coalition of prominent Nigerians has outlined a series of long-term solutions to avert future industrial disputes in Nigeria’s refining sector, following the recent labour dispute at the Dangote Refinery.

In a joint statement signed by respected leaders, including Bishop Matthew Kukah, Khalifa Muhammad Sanusi II, Atedo Peterside, Arunma Oteh, and Aisha Yesufu, the group commended the Federal Government, labour unions, and the Dangote Group for resolving the refinery dispute through dialogue rather than confrontation.

They urged that this peaceful resolution serve as a model for managing future industrial relations in the country’s energy and manufacturing sectors.

Promoting Constructive Dialogue Between Labour and Management

The signatories emphasised that structured dialogue remains the cornerstone of sustainable industrial harmony. While reaffirming workers’ constitutional right to organise and demand fair treatment, they cautioned against industrial actions that could destabilise strategic national assets.

‘Workers’ rights must be respected,’ the statement said. ‘However, the right to organise cannot become a licence to hold the economy hostage.’

They urged both labour and management to institutionalise negotiation frameworks that balance fairness with productivity, ensuring mutual respect and economic stability.

Strengthening Regulatory Oversight Through Institutions

Addressing public concerns about monopoly or market dominance, the group advised that such issues be handled through established statutory bodies like the Federal Competition and Consumer Protection Commission (FCCPC) rather than strikes.

The signatories noted that the FCCPC is legally mandated to assess competition and pricing issues, ensuring fair play within the refining sector.

‘There is no legal monopoly here,’ they clarified, stressing that other investors are free to venture into refining provided they possess the necessary capacity and expertise.

Fostering Transparency and Social Responsibility

The coalition further called on major investors to operate with transparency and uphold strong social responsibility standards. They urged enterprises of Dangote Refinery’s scale to maintain fair labour practices, reinvest in their host communities, and uphold ethical business conduct.

‘Social responsibility and accountability must remain central,’ the statement declared, adding that such practices build public trust and reinforce Nigeria’s industrial foundation.

Safeguarding Investor Confidence

Highlighting the refinery’s economic benefits, the signatories noted that petrol prices in some parts of the country have dropped by as much as 55 percent, from around N1,500 per litre to about N820, easing the burden on households and businesses.

They warned that persistent industrial disruptions could erode investor confidence at a time when Nigeria urgently needs private capital and innovation to stimulate growth.

They described the Dangote Refinery as a ‘national lifeline’ and a symbol of what bold domestic investment can achieve in driving economic transformation.

Building a Future Anchored in Productivity and Fairness

The group urged Nigerians to see the refinery episode as a broader lesson about the nation’s economic direction.

‘This crisis is not about a refinery or any other business,’ the statement read. ‘It is about whether Nigeria will continue in a cycle of scarcity and rent-seeking or build a future anchored in productivity, fairness, and shared prosperity.’

They called on the government, the private sector, and civil society to collaborate in fostering a productive economy that rewards innovation and transparency, rather than dependency on imports or subsidies.

Senate moves to sanction Nigerians convicted abroad, withdraw passports for 10 years

The Senate on Tuesday considered a bill seeking to amend the Passport (Miscellaneous Provisions) Act to impose penalties on Nigerians convicted of crimes abroad, including the withdrawal of their international passports for a minimum of 10 years.

The bill, sponsored by Abubakar Bello (Niger North), aims to redeem Nigeria’s image in the international community and curb criminal activities by citizens in foreign countries, which lawmakers said had led to widespread profiling and visa denials against Nigerians.

Leading debate on the bill on behalf of the sponsor, Onawo Ogwoshi, said the proposed amendment was ‘imperative and compelling’ as it would ‘serve as a strong deterrent’ against crimes committed by Nigerians in foreign jurisdictions, which have ‘dealt a crashing blow to the nation’s reputation.’

He noted that countries such as China, Turkey, Canada, Germany, South Africa, and the United Arab Emirates had imposed stringent visa restrictions on Nigerians due to repeated reports of crimes and convictions involving holders of Nigerian passports.

He said, ‘Innocent and patriotic Nigerians suffer harassment in international transits, visa denials, and discrimination because of the actions of a few.

‘The green passport, once a symbol of pride, is now widely discountenanced. That is nothing less than a state of emergency.

‘If this law passes, it will send a message not just to criminals, but to foreign jurisdictions: Nigeria is serious about upholding the rule of law at home and abroad.’

The bill proposes that any Nigerian convicted of a crime in a foreign country would have their passport withdrawn for ten years after serving their sentence.

The measure, he explained, would ‘redeem, preserve, and elevate the image and integrity of our dear country.’

Tahir Monguno ( Senator, Borno North) described the proposal as ‘apt and germane,’ saying it could not have come at a better time given the global profiling and visa denials faced by Nigerians.

‘This bill will not only punish those who bring shame upon Nigeria abroad, but will also act as a powerful deterrent, letting Nigerians everywhere know that crime across borders has consequences.’

He lamented that many innocent Nigerians were suffering reputational damage due to the criminal actions of a few citizens abroad.

Supporting the bill, Senator Babangida Hussaini (Jigawa Northwest) called for tighter control over passport issuance to prevent non-Nigerians from fraudulently obtaining Nigerian passports.

‘Nigerians of all shades and colours are being disrespected in foreign lands because of the ease of acquiring Nigerian passports.

‘In some cases, crimes committed by foreigners are attributed to Nigerians simply because they carry our passport.

‘We must reclaim the dignity of the green passport. When non-Nigerians use it to commit crimes, and Nigerians are profiled for it, that is an injustice to our people.’

Senate President Godswill Akpabio also threw his weight behind the bill, describing it as ‘a bold step to preserve the dignity and integrity of Nigerians.’

He recalled a case in Dubai where a group of black men committed robbery using Nigerian passports but were later discovered not to be Nigerians.

‘This bill will help tighten the process of passport issuance and ensure that those who mess up the country’s image abroad face the consequences.

‘Any Nigerian who tarnishes our image should not only face imprisonment abroad but also lose their passport for at least 10 years,’ Akpabio said.

The bill, which enjoyed unanimous support on the floor, was referred to the Senate Committee on Interior for further legislative work and public hearing.

If passed, the law will make Nigeria one of the few African countries with domestic legislation sanctioning citizens convicted of crimes in foreign jurisdictions, as part of efforts to restore global respect for the Nigerian passport.

‘I applauded this bill when I first read it, because it speaks to preserving the integrity and international reputation of our nation’

Akpabio reiterated, ‘So as this bill, when it goes through public hearing and all, and comes back to us, and we send it to Mr. President for assent, and the concurrence of our colleague in the House of Representatives who helped to cope such incidents, who tightened the ways and manner in which Nigerian passports circulate in the hands of foreigners, and also where a Nigerian goes to mess up the image of the country, such a Nigerian should not just go to prison and be deported to Nigeria.

‘Such a person should actually lose an international passport for at least 10 years, or 10 to 20 years, to serve as a deterrent.’

Three first-class graduates to share expertise at UI ODeL matriculation lectures

The three first-class graduates from the inaugural Open, Distance, and e-Learning (ODeL) programmes of the University of Ibadan will share their expertise at this year’s matriculation lectures of the ODeL.

Babatunde Omobowale,professor and Director of UI DLC disclosed who this in a statement said the addresses will be delivered by the distinguished alumni who achieved First-Class degree in Computer Science, Psychology and Political Science via the UI-ODeL mode.

The graduands -Olalekan Akolade Abass (Computer Science) will offer firsthand insights into mastering the flexible learning environment; he will be joined by Akindubi Jelili Babatunde (Psychology) who will explore models for achieving academic excellence at UI; and finally Okoye Mark (Political Science) will discuss the unique opportunities for UI-ODeL students and graduates’.

While saying that the matriculation for the new intake would hold on Saturday, 30th of October, 2025 at UI International Conference Centre (ICC) noted that the event is a compulsory, landmark ceremony that formally inducts new students into the prestigious University of Ibadan.

UI-ODeL model provides flexible pathway to a reputable University of Ibadan degree, an opportunity for special admission window.

The institution who urged all candidates currently undergoing screening or planning to apply directly to complete all requirements before the deadline, said ODeL undergraduate programmes will close by midnight of Friday, October 10, 2025.

Omobowale stated that this provides an opportunity for qualified candidates whose placement is restricted by JAMB/UTME limits related to traditional classroom settings.

It also serves those who need flexible study arrangements due to work or personal reasons, or those looking for a reputable, alternative pathway.

‘The centre welcomes applicants with five relevant O’ Level credits in one sitting or six in two sittings to apply to programmes including: Sciences: Computer Science, Statistics; Social Sciences: Economics, Sociology, Psychology, Political Science; Humanities and Education: Philosophy and Public Affairs, Communication and Language Arts, English, Social Work, Educational Management, Guidance and Counselling, and Library and Information Studies.

Kano targets ?15bn monthly revenue from 2026 to boost IGR capacity

Kano State Internal Revenue Service (KIRS) has set an ambitious target to generate ?15 billion in monthly revenue starting in 2026. The projection is part of Governor Abba Kabiru Yusuf’s ongoing efforts to strengthen the state’s Internally Generated Revenue (IGR) capacity.

Mohammed Abba Aliyu, executive director, compliance and enforcement of KIRS, made this disclosure, during a two-day multisector stakeholders’ engagement, currently holding in the commercial city of Kano.

The new IGR target is coming against the backdrop of the recent information issued by National Bureau of Statistics (NBS) which indicates that Kano State doubled its IGR in the 2024 financial circle.

According to NBS, the state is said to have doubled its total IGR collection in the outgone year, to N74.77 billion, which represents a 100 percent increase, as against the N37.39 billion collected in the 2023 financial year.

Addressing participants at the stakeholders’ engagement organised by the agency in collaboration with Partnership for Agile Governance and Climate Engagement (PACE), Mohammed said that the projection is anchored in a new tax framework being implemented in the state that is structured on fairness and efficiency.

He said under the revised system that is expected to become operational in 2026, only individuals earning above N800,000 per year will be taxed on the surplus, as a way of ensuring that lower-income earners are shielded from undue financial pressure.

Mohammed clarified that the new tax structure being implemented in the state, rests on three key pillars: Income tax from employment or business activities, Service charges for accessing public amenities like education and Penalties for legal infractions.

He further clarified that the new approach to tax collection is designed to streamline revenue collection, while reinforcing the social contract between citizens and the state in the payment of tax.

Also, in his presentation, Alhassan Usman, PACE representative, emphasized the transformative power of digital tax systems, urging the residents of the state, to move away from cash-based interactions with revenue officers, and advocated for secure, traceable digital payments.

Usman disclosed that the new revenue policy of the state is geared at not only reducing corruption, but also to improve access to government grants and financial support for compliant individuals and businesses.

He noted that beyond revenue generation, the campaign embarked upon by the agency, seeks to educate citizens on the long-term benefits of tax compliance, and the need for accurate tax records keeping, charging tax payees to monitor their financial health and position themselves for growth opportunities in the new tax reform.

It would be recalled that Northern states have recorded low performance in IGR collection compared to other regions, with the North-West and North-East zones recording low figures in 2023.

Although some states like Kaduna, Bauchi, and lately Kano, have stepped up their performance in latest data released by NBS, within their zones. The total IGR collection among states in the North-West in 2023 is put at N206.23 billion, which was less than the total collection by Federal Capital Territory (FCT) alone, highlighting the lower overall revenue generating capacity of the region.

Investor confidence soars as African Startups raise $2.2bn in 2025 funding

African start-ups raised $140 million in September, pushing the continent’s 2025 year-to-date funding total past an impressive $2.2 billion.

The latest figures from the monthly start-up deals database highlight a dynamic ecosystem, with 58 companies securing capital last month, marking the second-highest number of deals in a year, just behind July.

The $140 million raised in September, while slightly below the monthly average, aligns closely with the $146 million recorded in September 2024 and surpasses the $124 million from September 2023.

Equity investments dominated, accounting for $105 million (75 percent) of the total, with debt financing contributing $32 million and grants, including 16 match-funding awards from DEG Impulse’s develoPPP Ventures cohort in East Africa, adding $3 million.

Leading the charge were five major equity deals: Nigeria’s fintech Kredete secured a $22 million Series A, while Pura Beverage, a beverage company taking the venture capital route, closed a $15 million Series B.

South Africa’s Contractable (identity tech) raised $13.5 million, Egypt’s AI-driven Intella secured $12.5 million in a Series A, and South African edtech The Invigilator bagged $11 million.

These transactions underscore the diversity of sectors attracting investment, from fintech to AI and education.September also saw significant exit activity, with five start-ups acquired across the continent.

In South Africa, Twofold Capital acquired fintech TaxTim, edtech Rekindle bought EpiTek, and fintech Street Wallet snapped up Digitip. In North Africa, Morocco’s super app Ora Technologies acquired logistics start-up Cathedis, while Egypt’s healthtech Duaya took over EXMGO.

Zooming out, the third quarter of 2025 proved robust, with African start-ups raising $785 million, a notable increase from Q1’s $461 million, though slightly below Q2’s $963 million.

This Q3 figure outperforms the same period in 2024 ($649 million), 2023 ($496 million), and 2022 ($612 million), signaling sustained investor confidence.

With $2.2 billion raised in 2025 so far, the continent is just $40 million shy of matching the total funding for all of 2024.

As African start-ups continue to attract global attention, the September haul and strong Q3 performance highlight a maturing ecosystem poised for further growth, with 2025 on track to set new benchmarks for innovation and investment on the continent.

Eko DISCO registers new subsidiary to oversee Lagos power distribution

Eko Electricity Distribution Company Plc (Eko DisCo) has registered Excel Electricity Distribution Limited as a wholly owned subsidiary to oversee its electricity distribution business within Lagos State.

According to the company, the move aligns with the requirements of the Electricity Act 2023, which transferred regulatory oversight of the electricity market to State Governments.

In a statement issued on Monday, Eko DisCo said the Lagos State Electricity Regulatory Commission (LASERC) had directed the company to register a separate entity for its Lagos operations, in compliance with state electricity market regulations.

The company clarified that the new entity, Excel Electricity Distribution Limited, would operate under Eko DisCo’s oversight while remaining subject to regulation by LASERC and the Nigerian Electricity Regulatory Commission (NERC).

Eko DisCo emphasised that the restructuring does not amount to a sale or takeover, noting that it remains a legally recognised and operational entity under Nigerian law.

‘Eko Electricity Distribution Company Plc has not been sold or taken over. There has been no sale, transfer of ownership, or dissolution of the company,’ the statement read.

The company further explained that Eko DisCo remains owned by West Power and Gas Limited (WPG), which retains a 60% stake, while the Bureau of Public Enterprises (BPE) holds the remaining 40% on behalf of the Federal Government of Nigeria.

Eko DisCo noted that the new subsidiary, Excel Electricity Distribution Limited, will continue electricity distribution activities previously handled by Eko DisCo, with no operational disruption to customers.

‘All customers of Excel Disco will continue to be served by the same personnel who served them in EKODISCO and should pay their bills in the same way. They will not notice any change as we transition the name from EKODISCO to Excel Disco,’ the company said.

The statement also confirmed that Eko DisCo had transmuted into a holding company as part of the transition, describing the change as a regulatory compliance measure that would not affect its operations in Lagos.

Eko DisCo reiterated its commitment to providing reliable, efficient, and sustainable power supply to customers, stressing that the development is a regulatory and structural transition, not a takeover or divestment.

Certificate scandal: Nnaji resigns as minister, claims political witch-hunting

President Bola Tinubu has accepted the resignation of Geoffrey Nnaji, minister of Innovation, Science, and Technology, following some allegations of certificate forgery against him.

Bayo Onanuga, special adviser to the President on Information and Strategy, in a statement, said Nnaji’s resignation was received by President Tinubu ‘ today in a letter thanking the President for allowing him to serve Nigeria.’

Recall that President Tinubu had appointed Nnaji as a minister in August 2023.

Nnaji, in the letter of resignation, said ‘he has been a target of blackmail by political opponents.’

President Tinubu thanked him for his service and wished him well in future endeavours.

Nnaji was alleged to have presented a certificate that claims he is a graduate of the University of Nigeria Nsukka.

The institution however couldn’t verify the claim, saying that it has no records that Nnaji actually graduated from the University.

Nnaji resignation makes him the second Minister in the two years old cabinet of President Tinubu, to have left under such circumstances.

Recall that Betta Edu, former minister of Humanitarian Affairs and Poverty Alleviation also left the cabinet unceremoniously, after she suspended by the President over allegations of diversion of public funds into private account.

Nigerians to feel impact of new tax laws beginning January 2026 – Oyedele

Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reform Committee, has said that Nigerians will start enjoying the benefits of the new tax laws beginning from January 2026.

Oyedele, who spoke at the ongoing Nigerian Economic Summit (NES31) in Abuja on Tuesday, said that about 98 per cent of Nigeria’s population will no longer pay the Pay As You Earn (PAYE) tax.

President Bola Tinubu, in June 2025, signed the four (4) Tax Reform Bills into law. These laws include the Nigeria Tax Act (NTA), the Nigeria Tax Administration Act (NTAA), the Nigeria Revenue Service Act (NRSA) and the Joint Revenue Board Act (JRBA).

The Acts comprehensively overhaul the Nigerian tax landscape to drive economic growth, increase revenue generation, improve the business environment and enhance effective tax administration across the different levels of government.

Oyedele emphasised that the new tax laws are not targeted at the low-income earners or those at the poverty line.

‘From January 2026, you will feel the impact. If you earn a salary, when you are paid your salary at the end of January 2026, for 97- 98 per cent of Nigerians, they will either no longer pay PAYE, or they’ll pay less PAYE.

‘That is about 33 percent of workers in the public and private sector combined, will no longer pay PAYE, because they will be exempted. The remaining 2 percent plus will pay more,’ he said.

He explained that the committee has established a poverty line, which can be determined through a household income and not individuals.

‘So if you look at the amount, you don’t know how many people depend on that amount. So we looked at the study that was done by the NBS, and the average household size in Nigeria is five. Based on the data on employment, gainfully employed people, you have a little over two out of the five who are employed.

‘We came up with a conclusion of between N100,000 and N120,000 a month. Two people would then earn around 230,000 to 240,000 to cater for five people so they don’t fall below the poverty line. Under the old laws, you earn 30,000 Naira a month, you’re paying tax. So this is significant improvement,’ he said.

Oyedele, speaking further, stressed that the laws are made to enhance businesses and reduce their risks. He also explained that the law, with the reduction in personal income tax to 25 percent, seeks to create incentives for business formalisation.

He said that the law also reduces the corporate tax rate from 30 to 25 per cent. He also stated that under the new law, if your annual turnover is 100 million Naira or less, as a company, your corporate tax rate is 0 per cent.

‘Low income, no tax. Upper income, a bit more. Now, in many countries around the world, what you will find is that the top rates for personal income tax is usually higher than the rate for corporate tax so that you can incentivise business formalisation.

‘So when you operate in the informal sector and you want to pay your taxes, your maximum income tax doesn’t even hit 20 percent. Same business, formalize it, register as a company, your tax burden goes to over 40 percent. And then we lament that the informal sector is too big. We were creating it, we created a disincentive to formalization. We are now trying to reverse it. It’s the reason why we have to take the top rates for personal income tax to 25 percent.’